Afghans hedge bets on Turkish property

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RICH Afghans have been buying up property in Turkey as an insurance policy against possible problems at home after the drawdown of international military forces and aid money.

Business people, government officials and others who have profited from the overseas cash washing through Kabul since the US-led invasion in 2001 have flocked to property in cities such as Istanbul and Antalya, after Ankara relaxed rules on foreign ownership.

While some educated and moneyed Afghans say that they are optimistic about the future after this month’s landmark national elections, the embrace of Turkey is a sign of how others are hedging their bets in case the country returns to conflict.

“There were a lot of rumours about insecurity after the elections and after the withdrawal of the foreign troops,” said Shoaib Najafizada, a 30-year-old analyst and journalist who still lives in Afghanistan but bought a $230,000 flat in Istanbul in 2013.

“Turkey is a nice place and it’s an Islamic country. It’s a good opportunity for Afghans.”

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